of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results, levels of activity, safety, efficacy, performance or events and circumstances could differ materially from those expressed or implied in Alumis' forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to Alumis' ability to advance ESK-001 and its other clinical candidates and to obtain regulatory approval of and ultimately commercialize Alumis' clinical candidates, the timing and results of preclinical and clinical trials, Alumis' ability to fund development activities and achieve development goals, Alumis' ability to protect its intellectual property and other risks and uncertainties described in Alumis' filings with the Securities and Exchange Commission $(SEC.UK)$, including those described from time to time under the caption "Risk Factors" and elsewhere in Alumis' current and future reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Alumis explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
ALUMIS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND
COMPREHENSIVE LOSS
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------- ---------------------
(in thousands) 2024 2023 2024 2023
----------------- -------- -------- --------- ---------
Operating
expenses:
Research and
development
expenses $ 87,824 $ 37,788 $ 178,350 $ 103,071
General and
administrative
expenses 10,575 5,971 23,782 14,971
------- ------- -------- --------
Total
operating
expenses 98,399 43,759 202,132 118,042
------- ------- -------- --------
Loss from
operations (98,399) (43,759) (202,132) (118,042)
Other income
(expense):
Interest income 5,322 951 8,153 2,509
Change in fair
value of
derivative
liability -- (551) (5,406) (119)
Other income
(expense), net (40) (18) (89) (41)
------- ------- -------- --------
Total other
income
(expense),
net 5,282 382 2,658 2,349
------- ------- -------- --------
Net loss $(93,117) $(43,377) $(199,474) $(115,693)
------- ------- -------- --------
Other
comprehensive
income (loss)
Unrealized gain
(loss) on
marketable
securities,
net 140 (3) 137 127
------- ------- -------- --------
Net loss and other
comprehensive
loss $(92,977) $(43,380) $(199,337) $(115,566)
======= ======= ======== ========
ALUMIS INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
September 30, December 31,
(in thousands) 2024 2023
---------------------------------- --------------- --------------
Assets
Current assets:
Cash and cash equivalents $ 213,417 $ 45,996
Restricted cash -- 113
Marketable securities 148,453 2,956
Research and development prepaid
expenses 12,241 2,661
Other prepaid expenses and
current assets 3,236 1,631
----------- ----------
Total current assets 377,347 53,357
Restricted cash, non-current 1,024 1,024
Property and equipment, net 21,429 22,441
Operating lease right-of-use
assets, net 12,752 12,783
Other long-term assets 7 7
----------- ----------
Total assets $ 412,559 $ 89,612
=========== ==========
Liabilities, Redeemable Preferred
Stock and Stockholders' Equity
(Deficit)
Current liabilities:
Accounts payable $ 6,444 $ 1,118
Research and development accrued
expenses 18,140 10,946
Other accrued expenses and
current liabilities 7,464 7,087
Operating lease liabilities,
current 1,467 1,720
----------- ----------
Total current liabilities 33,515 20,871
Operating lease liabilities,
non-current 29,631 30,860
Share repurchase liability 1,024 1,771
----------- ----------
Total liabilities 64,170 53,502
----------- ----------
Redeemable convertible preferred
stock -- 375,370
Stockholders' equity (deficit)
Preferred stock -- --
Common stock 5 1
Additional paid-in-capital 912,037 25,055
Accumulated other comprehensive
income 139 2
Accumulated deficit (563,792) (364,318)
----------- ----------
Total stockholders' equity
(deficit) 348,389 (339,260)
----------- ----------
Total liabilities, redeemable
convertible preferred stock
and stockholders' equity
(deficit) $ 412,559 $ 89,612
=========== ==========
Alumis Contact Information
Teri Dahlman
Red House Communications
teri@redhousecomms.com
(END) Dow Jones Newswires
November 13, 2024 16:05 ET (21:05 GMT)